What you need to know as UAE markets open on July 20

Here are some things you need to know as markets open today in the United Arab Emirates.

1) Dubai Islamic Bank net profit for Q2 2017 rose nearly 14 percent YoY to AED 1.1 billion.

2) Abu Dhabi-listed Commercial Bank International said its net profit for Q2 2017 stood at AED 32 million, which was nearly then same as the profit in the same quarter last year.

3) Dubai-listed Emirates NBD posted a net profit of AED 2.02 billion for Q2 2017, an increase of 6 percent year-on-year (YoY).

4) Dubai Financial Market (DFM) will hold a board meeting on July 24 to review its Q2 2017 financial statements.

5) Damac Properties and Amlak Finance have partnered to offer exclusive investment opportunities to Damac customers who plan to buy another property with the developer.

6) Dubai’s newly launched Emirates Towers Business Park is set to become the city’s “most defining commercial development in over 10 years,” real estate consultant Cluttons said.

7) The total number of investors in Abu Dhabi Securities Exchange (ADX) by the end of H1 2017 reached 961,000, with the addition of 2,276 investors during the period.

8) Oil prices slipped slightly on Thursday, declining from the sharp rise in the previous session after Energy Information Administration reported a fall in US crude stockpiles. Both Brent crude and WTI crude were marginally lower at $49.69/bbl and $47.11/bbl, respectively.

9) Asian stocks were mainly positive towards closing hours. Japan’s Nikkei225 Index was last up 0.6 percent, China’s CSI300 Index rose 0.1 percent and Hong Kong’s Hang Seng Index gained 0.3 percent.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com